SHERBROOKE - A new federal heat pump rebate program will launch early next year, even though the program's full details have not yet been finalized, Prime Minister Mark Carney said

The government is budgeting $2 billion over eight years with a target of retrofitting one million homes.

Households below the median income level can get up to $10,000 back on a heat pump purchase, while other homeowners can get $2,000 by switching to a heat pump.

Ottawa is in the process of winding down an existing program to subsidize purchases of heat pumps for homes heated with oil. As of March, the Oil to Heat Pump Affordability program helped to install more than 30,000 heat pumps across the country.